Altcoins Resume Bullish Ascent Above Their Recent Highs

The top-performing altcoins are moving past the 21-day SMA barrier and entering the bullish trend zone.

However, the 50-day SMA barrier has made it more difficult for cryptocurrencies to fully recover, resulting in confined price movement.

DoubleZero

DoubleZero (2Z) has recovered from its previous decline, surpassing the 21-day SMA barrier. Bullish momentum peaked at $0.1484 before pulling back, as buyers were unable to sustain positive momentum above the $0.1400 high.

Today, the cryptocurrency price has retraced to the 21-day SMA support. The current uptrend will resume if the altcoin retraces and remains above the 21-day SMA support. A breach above the $0.1400 level will propel the altcoin to a high of $0.20.

However, a break below the 21-day SMA support will send the altcoin back to its low of $0.101. 2Z is the top-performing cryptocurrency.

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  The current price: $0.1293

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  Market capitalization: $449,168,854.35

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  Trading volume: $42,241,892.53

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  7-day gain: 32%

Sui

Sui (SUI) has recovered and broken through the 21-day SMA barrier. Following the recent slump, the cryptocurrency price has remained above the $0.30 support level since November 21.

However, the upward trend has stalled as the price breaks above the 21-day SMA resistance. SUI is currently trading above the 21-day SMA support but below the 50-day SMA resistance. A break above the 50-day SMA will signal the return of the uptrend. SUI is the second-best-performing cryptocurrency.

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  The current price: $1.59

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  Market capitalization: $5,946,796,393.07

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  Trading volume: $741,094,205.12

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  7-day gain: 18.11%

Pudgy Penguins

Pudgy Penguins’ (PENGU) price is rising after previously falling to the bottom of the chart. On the daily chart, the cryptocurrency price broke above the 21-day SMA before retracing and continuing to consolidate above this level. The presence of Doji candlesticks has caused the price movement to remain stationary. The price has held steady above the $0.009 support level. PENGU is the third-best-performing coin.

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  The current price: $0.01135

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  Market capitalization: $714,710,085.5

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  Trading volume: $169,118,658.93

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  7–day gain: 18.06%

Aave

Aave’s (AAVE) price is recovering after breaking above the 21-day SMA. The cryptocurrency had previously fallen to a low of $147 on November 21 before rebounding. The altcoin is now above the 21-day SMA support but remains below the 50-day SMA. The upward trend has paused below the 50-day SMA. If buyers overcome the 50-day SMA, AAVE could reach a high of $240. AAVE is the fourth-most successful altcoin.

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  The current price: $188.69

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  Market capitalization: $2,886,830,423.12

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  Trading volume: $387,871,820.34

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  7–day gain: 15.84 % 

Chainlink

Chainlink’s (LINK) price has stabilised above critical support at $12 and risen above the 21-day SMA. LINK is trading above the 21-day SMA but below the 50-day SMA. The 50-day SMA has rejected the price, which is now retracing and finding support above the 21-day SMA. LINK is consolidating above the 21-day SMA support. The altcoin will trend if it rebounds or breaks below the 21-day SMA support. LINK is the fifth-highest-performing altcoin. Here are a few of its qualities.

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  The current price: $13.70

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  Market capitalization: $9,536,167,010.02

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  Trading volume: $559,823,056.98

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  7–day gain: 15.33%

Disclaimer. This analysis and forecast are the personal opinions of the author. The data provided is collected by the author and is not sponsored by any company or token developer. This is not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coinidol.com. Readers should do their research before investing in funds.